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Taxing my brain says: 28 June 2015 at 17:49 Good day Tim I have forgotten to claim membership fees to a professional body as a deduction in the 2013/2014 tax year. Can I claim it in this 2014/2015 tax year? Also if money is spent on CPD (required to maintain membership to a professional body), is this deductable for tax purposes? |
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TaxTim says: 29 June 2015 at 8:27 Are you a salaried employee or do you work for yourself? |
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Taxing my brain says: 29 June 2015 at 9:36 Yes, I have been a salaried employee. I have also actively searched for jobs hoping that my designation with the professional body would result in good job prospects. |
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TaxTim says: 29 June 2015 at 11:44 Unfortunately as a salaried employee you will not be able to claim this professional contribution as it is not allowed as per the tax act. |
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Taxing my brain says: 29 June 2015 at 11:59 Hi Tim I would like to add that I personally paid my membership fees and not my employer. Does this change the tax position? Also can you please quote the section of the tax Act which prohibits a salaried employee from obtaining a deduction? That will be much appreciated! |
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TaxTim says: 29 June 2015 at 14:27 Your employer paying for it would actually be better because then you are not taxed on it and they claim a deduction. However salaried employees are limited to deductions under s23(m) of the tax act which does not include these type of expenditures. |
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Taxing my brain says: 29 June 2015 at 15:22 Thank you! |
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TaxTim says: 29 June 2015 at 15:53 Glad we could assist! |
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